How much does Pepperstone charge to trade HK50?
Verdict
- Pepperstone charges a published 5-point average spread to trade HK50 and no commission, on both the Standard and Razor accounts.
- The spread is paid once per round trip, so at HK$10 a point a trade costs HK$50 before any overnight financing.
- The HK50-F forward is quoted with a 10-point minimum spread, wider than the cash CFD.
- Hong Kong clients trade through Pepperstone Markets Limited (Bahamas, SCB SIA-F217), which allows up to 1:200 retail leverage on major indices and holds no SFC licence.
The headline number is short: 5 points of spread, no commission. What you actually pay depends on your stake per point, how long you hold, and whether your account currency matches the index. Here is each part, with the arithmetic.
The HK50 price list
Pepperstone's index-fee page gives HK50 a minimum and an average of 5 points on both accounts, and states that index CFDs carry no commission. That makes the Standard account just as cheap as Razor for Hang Seng trading; Razor's commission applies to forex and metals, not indices. The only other trading charge on a cash HK50 position is overnight financing if you hold it past the daily cut-off, shown per instrument in the platform. Deposits and withdrawals through the methods on the international site are free, and there is no inactivity fee. Choose HKD as your base currency and the Hang Seng's Hong Kong dollar pricing means no conversion on profits or losses.
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Spread cost by stake size
You pay the spread once: you buy at the higher price and sell at the lower one. At the 5-point average:
| Stake per index point | Spread cost | Commission | Total |
|---|---|---|---|
| HK$1 | HK$5 | HK$0 | HK$5 |
| HK$5 | HK$25 | HK$0 | HK$25 |
| HK$20 | HK$100 | HK$0 | HK$100 |
| HK$50 | HK$250 | HK$0 | HK$250 |
Margin: what you put up, not what you pay
Margin is a deposit, not a charge, but it decides how much you can lose. Take a hypothetical index level of 24,000 and a HK$20-per-point stake, a position worth HK$480,000. At the 1:200 retail maximum the margin is HK$2,400, which a 120-point move against you would erase. At a self-imposed 1:20 it is HK$24,000, and the same 120 points costs you HK$2,400, or 10% of that margin. Pepperstone's international site says 80% of retail CFD accounts lose money; position size is the lever you control.
Cash HK50, the forward, or Hong Kong shares
- Cash HK50: 5-point average, no commission, plus overnight financing on positions you hold.
- HK50-F forward: a 10-point minimum spread, double the cash CFD's average; read its expiry date and holding terms in the platform first.
- Single HKEX shares: 0.2% commission per side. A HK$100,000 share CFD costs HK$200 to open and HK$200 to close, plus the spread.
- Professional clients (self-certified, 2 of 3 criteria) can use up to 1:500 on major indices, but negative balance protection then becomes a discretionary one-time cover of up to USD 100,000.
Sources
Pepperstone's own pricing and leverage pages.
Is HK50 cheaper on Pepperstone's Razor account?
No. Both accounts show the same 5-point average and neither charges commission on index CFDs.
Does Pepperstone charge commission on HK50?
No. Commission applies to Razor forex and metals trades and to share CFDs, not to index CFDs.
Can I trade HK50 outside Hong Kong market hours?
Check the instrument's trading hours in the platform; spreads outside the main session can be wider than the published average.
Trading HK50 and other index CFDs involves leverage and a high risk of rapid loss. Costs shown are broker-published averages and hypothetical examples; your results will differ. Not investment advice.